Home Craft Online, which owns home decor e-marketplace BedBathMore, has raised an undisclosed amount from investors including Swedish bank AB Kinnevik Group, Germany’s Rocket Internet and some backers of FabFurnish, the online furniture brand recently acquired by Future Group.
Earlier this year, the media had reported a possible merger between BedBathMore and FabFurnish, but the deal did not go through. Last year, Home Craft Online had announced plans of investing Rs 128 crore to fund its expansion plans. According to filings with the Registrar of Companies, BedBathMore raised close to Rs 3.5 crore in equity from investors in Fab-Furnish in March this year. From being a marketplace for furnishings and decor, BedBathMore is looking to make lead generation a major source of revenue.
Going ahead, the company will focus on creating a look book to its customers who can source the products from the marketplace. The platform has also tied up with service providers in the interiors space, include paint companies, designers and architects, among others, for listing services.
“We are working on multiple features for customers who can find a look, buy the look and consult with interior designers on the platform,” said Amit Dalmia, CEO of BedBathMore.
Source: The Economic Times
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